Trump To Impose 25% Tariffs On US Steel And Aluminium Imports

President Donald Trump declared on Sunday, February 9, that US steel and aluminum imports would be subject to 25 percent tariffs starting week.

Trump told reporters on Air Force One that the tariffs will be imposed on “any steel coming into the United States,” with imports of aluminum also being impacted. His protectionist trade policies, which are intended to defend US companies from alleged unfair competition, are being carried out with this pronouncement.

During his first term, Trump imposed similar levies on European and Asian countries. The United States’ top exporter of steel and aluminum, Canada, along with South Korea, Brazil, and Mexico, is anticipated to be affected by the new regulations. In recent weeks, Trump had previously threatened to impose taxes on Canada.

On Sunday, February 9, Trump also announced plans for “reciprocal tariffs,” which he claimed would match the rates levied by other countries on US goods. “Every country will be reciprocal,” he said, adding that more information would be released by midweek.

Trump has a history of using tariffs as a tactic. He levied taxes on trading partners like as China, Mexico, and Canada shortly after assuming office. The duties on Chinese imports continued as he temporarily suspended 25 percent tariffs on Canada and Mexico in return for pledges to fight fentanyl trafficking and illegal immigration. Beijing responded by enacting targeted duties on $14 billion worth of US commodities, including coal and liquefied natural gas, after Chinese products were subjected to an additional 10-percent tax. Meanwhile, $525 billion worth of Chinese goods are impacted by Trump’s tariffs.

Trump’s tariff measures have drawn criticism from French President Emmanuel Macron, who has urged the US to concentrate its trade efforts on China instead of the EU. Macron said on CNN that tariffs on Europe will raise prices for American consumers and cause inflation. Trump has nevertheless threatened to impose additional tariffs on the EU and warned Japan of possible charges if Tokyo does not close the US trade deficit with Japan.

The US trade gap increased to about $920 billion last year, fuelling Trump’s call for a “new golden age” for the American economy. Trump argues that tariffs will be borne by foreign exporters rather than US consumers, but experts strongly disagree. He has admitted that these actions may cause Americans to experience economic “pain”.

Trump’s tariffs have also been used as leverage to achieve larger policy objectives. For example, he threatened Colombia with tariffs after the country refused to accept US military planes transporting deported migrants. Following a standoff, the Colombian government finally complied.

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli